Enbridge (ENB) Stock Sinks As Market Gains: What You Should Know

Enbridge (ENB) ended the recent trading session at $40.87, demonstrating a -0.17% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.27%. Elsewhere, the Dow gained 0.65%, while the tech-heavy Nasdaq added 0.26%.Coming into today, shares of the oil and natural gas transportation and power transmission company had gained 0.56% in the past month. In that same time, the Oils-Energy sector lost 9.27%, while the S&P 500 gained 2%.The investment community will be paying close attention to the earnings performance of Enbridge in its upcoming release. The company is slated to reveal its earnings on November 1, 2024. The company is predicted to post an EPS of $0.40, indicating a 13.04% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.54 billion, indicating a 38.17% decrease compared to the same quarter of the previous year.Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.07 per share and revenue of $25.86 billion, indicating changes of 0% and -20.19%, respectively, compared to the previous year.Investors might also notice recent changes to analyst estimates for Enbridge. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.72% fall in the Zacks Consensus EPS estimate. Right now, Enbridge possesses a Zacks Rank of #3 (Hold).In terms of valuation, Enbridge is presently being traded at a Forward P/E ratio of 19.83. Its industry sports an average Forward P/E of 17.83, so one might conclude that Enbridge is trading at a premium comparatively.Investors should also note that ENB has a PEG ratio of 3.97 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Oil and Gas - Production and Pipelines industry had an average PEG ratio of 3.12.The Oil and Gas - Production and Pipelines industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 38% of all 250+ industries.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Enbridge Inc (ENB): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks